Short Interest in TaskUs, Inc. (NASDAQ:TASK) Increases By 37.9%

TaskUs, Inc. (NASDAQ:TASK) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 1,710,000 shares, a growth of 37.9% from the March 15th total of 1,240,000 shares. Based on an average trading volume of 216,800 shares, the short-interest ratio is presently 7.9 days. Currently, 10.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

TASK has been the topic of several analyst reports. Bank of America upped their target price on TaskUs from $11.00 to $12.00 and gave the stock an “underperform” rating in a report on Thursday, February 29th. Citigroup increased their price objective on TaskUs from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Royal Bank of Canada boosted their target price on shares of TaskUs from $16.00 to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Finally, Guggenheim began coverage on shares of TaskUs in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $13.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.63.

Institutional Trading of TaskUs

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new position in TaskUs during the 1st quarter worth $42,000. Canada Pension Plan Investment Board bought a new position in TaskUs during the first quarter worth about $108,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in TaskUs in the 2nd quarter worth about $61,000. Lazard Asset Management LLC boosted its holdings in TaskUs by 60.0% in the 1st quarter. Lazard Asset Management LLC now owns 4,000 shares of the company’s stock valued at $153,000 after purchasing an additional 1,500 shares during the period. Finally, Quarry LP grew its position in shares of TaskUs by 326.6% during the 4th quarter. Quarry LP now owns 4,321 shares of the company’s stock worth $56,000 after purchasing an additional 3,308 shares in the last quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

TaskUs Trading Down 0.4 %

TASK stock opened at $11.37 on Monday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 3.13 and a beta of 2.35. The company has a fifty day moving average price of $12.11 and a two-hundred day moving average price of $11.75. TaskUs has a one year low of $7.95 and a one year high of $15.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.23 and a quick ratio of 3.23.

TaskUs (NASDAQ:TASK) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $234.26 million for the quarter, compared to analyst estimates of $225.96 million. TaskUs had a net margin of 4.94% and a return on equity of 16.91%. Equities analysts anticipate that TaskUs will post 0.75 EPS for the current year.

TaskUs Company Profile

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.